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Illinois Gasoline and Fuel Sales Excise Tax audit

By January 21, 2016November 16th, 2019Illinois Sales Tax, Uncategorized

Illinois Gasoline and Fuel Sales Excise Tax audit
By: Mansoor Ansari
When you are buying and/or selling gas in Illinois, it is very unclear where your money is going. This blog is not written for the mere purpose of smearing the state of IL. I try my best to educate my clients on their audit, their obligations as a vendor of gasoline, as well as to deter future owners of buying a gas station in Illinois and the Chicagoland area.
Let’s break down the hidden costs as if you were to purchase 15 gallons of gas:
Gallons:                                     15
Price/Gallon                                $2.41

Federal Motor fuel excise tax        $0.18
Illinois environmental tax              $0.01
Illinois state sales tax                   $0.11
Illinois excise tax                         $0.19
Cook County and city excise tax   $0.11
County home rule sales tax          $0.01
Home rule rule sales tax              $0.02
Regional Transportation sales tax $0.02
Raw Price of gas                       = $1.75       TOTAL:  $26.18
Tax Bill                                     = $0.66       TOTAL TAX:  $9.97
Call our office to discuss your Illinois Gasoline and Fuel Sales Excise Tax audit.

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